Guideline Value for BEGUM SAHIB 1ST STREET

Begum Sahib 1st Street guideline value

The current guideline value of Begum Sahib 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - II.

How the guideline value of Begum Sahib 1st Street has changed

Over the years, the guideline value of Begum Sahib 1st Street has seen significant changes. The earliest recorded revision was in 2002, with a guideline value of Rs 539 per sq.ft. This increased to Rs 599 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 900 per sq.ft in 2007, a substantial increase of 50%. Following this, the 2012 revision set the value at Rs 4,500 per sq.ft, representing a remarkable 400% increase from the previous figure. The most recent revision in 2024 has established the value at Rs 4,900 per sq.ft, reflecting a 9% increase from 2012.

The register does not provide figures for the years 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 809%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Begum Sahib 1st Street's 2024 figure below that median.

• Begum Sahib 2nd Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 1st Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 2nd Street: Rs 4,900 per sq.ft (2024)
• Begum Sahib 3rd Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 3rd Street: Rs 4,900 per sq.ft (2024)
• Begum Sahib 4th Lane: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Begum Sahib 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000. Together, the total fees would be Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Begum Sahib 1st Street?

The Sub Registrar Office that covers Begum Sahib 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore

The guideline value is a crucial figure used during property registration in Mylapore. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. This ensures that transactions are conducted transparently and fairly, reflecting the true value of the property in the eyes of the law.

Frequently asked questions

What is the current guideline value of Begum Sahib 1st Street?

The current guideline value of Begum Sahib 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the earliest figure in 2002 at Rs 539 per sq.ft, rising to Rs 4,900 per sq.ft in 2024. Notable increases occurred in 2007 and 2012, with a total rise of 809% from 2002 to 2024.

What is the classification of Begum Sahib 1st Street?

Begum Sahib 1st Street is classified as Residential Class V Type - II, indicating its designation for residential use.

Where can I find the Sub Registrar Office for Begum Sahib 1st Street?

The Mylapore Sub Registrar Office covers Begum Sahib 1st Street and is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the stamp duty calculated for properties on this street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.